Turkish lira renews historical minimum

by time news

The Turkish Lira fell to its lowest level in history. By 3:33 p.m., the Turkish currency was down about 15% against the dollar, to 13.4 per $ 1, according to Investing.com.

The lira exchange rate has been significantly decreasing since the beginning of November. To stabilize the lira and inflation, the Turkish Central Bank cut one of its key rates last week. Against the background of the fall of the lira, the Turkish opposition announced the need for early elections. Since the beginning of the year, the lira has decreased by more than 25%.

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